VANCOUVER, June 21 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the
Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN:
CA6565291045) is pleased to announce results from the fourth and fifth Phase
II diamond drill holes targeting the Constancia Zone at the Constancia
Copper-Molybdenum-Silver-Gold Porphyry Project in southern Peru.
Drill hole CO-06-045 is a step-out hole in the north-central part of the
Constancia zone. The upper part of the hole contained a combination of
post-mineral dike and leached capping to 150 meters, below which secondary
chalcocite mineralization was encountered in monzonite. This mineralization is
in a step-out area that was previously thought to be beyond the boundary of
the mineralized zone, based on the surface geology.
Drill hole CO-06-046 is an infill hole in the southern part of the
Constancia zone. The hole commenced in skarn mineralization to approximately
93 meters. Below 93 meters, leached capping and secondary chalcocite was
encountered to below 200 meters. The 200 meter interval represents skarn
sulfides and secondary chalcocite mineralization, typical of this part of the
Constancia zone, which is open-ended to the south.
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TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL FROM TO INT. Cu Mo Au Ag CuEQ
HOLE (m) (m) (m) (%) (%) (g/t) (g/t) (1)
-------------------------------------------------------------------------
CO-06-45 150.00 164.00 14.00 1.07 0.01200 0.0690 10.60 1.28
171.85 196.00 24.15 1.58 0.00280 0.0500 9.10 1.71
CO-06-46 0.00 200.00 200.00 0.57 0.01200 0.0890 2.87 0.72
Note 1: Copper equivalent Values (CuEQ) are estimated using long-term
metal prices including: Copper US$1.20 per lb, Molybdenum US$8.00 per lb,
Gold US$450 per oz., and Silver US$7.50 per oz. Adjustment factors to
account for differences in relative metallurgical recoveries for gold,
copper and molybdenum will depend upon the completion of definitive
metallurgical testing. CuEQ equals Cu per cent plus Mo percent times
(8.00/1.20) plus Au grams per tonne times 14.47/(1.20(x)22.05) plus Ag
grams per tonne times 0.24/(1.20(x)22.05).
The majority of future holes will be step-out holes on 100 meter centers,
similar to the program carried out in 2005, for the purpose of calculating a
resource estimate for the property. Two drill rigs are currently operating on
site.
Marc Levy, Norsemont President & CEO, stated, "As with the results
reported late last week, this infill hole continues to show excellent
continuity within the mineralized zone. The copper grades in the step-out hole
are some of the highest continuous grades of copper in chalcocite encountered
to date."
The drilling program and geological studies at the Constancia project are
being supervised by Dr. Thomas A. Henricksen, P. Geo., Norsemont's Qualified
Person as defined by NI 43-101. Mr. Henrickson has reviewed and approved
information contained in this news release. Core samples are cut with a
diamond saw, with one-half of the core placed in sealed bags, and shipped to
ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality
control program for assaying which includes the systematic use of standards,
blanks, and field duplicate samples. Secondary laboratories are also used for
check assaying.
A plan map with drill hole locations will be available shortly on
Norsemont's website at www.norsemont.com
About Norsemont Mining
Norsemont Mining is a well-structured, well-financed exploration company
working in the Americas, with a focus on Peru. The Company is currently
drilling the Constancia Cu-Au-Mo project, and exploration is underway at the
Amata Ag-Au property acquired from Rio Tinto. Norsemont recently completed
financings totaling $14 million.
Sincerely,
Marc E. Levy
President & CEO
Norsemont Mining Inc.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release. We seek
Safe Harbor.
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